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WorldRemit vs XE

15 February 2019

We compare these two online transfer providers side by side to see which comes out on top.

If you want to send an online money transfer, WorldRemit and XE both offer international transfers to more than 145 countries. However, while WorldRemit offers a range of payout methods to suit the needs of your recipient, XE specialises in fast bank transfers.

So which service is the right choice for your next international money transfer? Let's compare WorldRemit and XE in terms of fees, exchange rates and transaction times to find out.

The fees and rates used in this comparison are accurate as of 11 February 2019.

Compare up to 4 providers

The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Which has lower fees?

WorldRemit

WorldRemit charges a fee on each international money transfer, but the size of the fee depends on multiple factors:

How much money you send

Where you send it

The type of transfer you send

Bank transfers attract the lowest fees, often around $3.99 per transaction, but we recommend that you use WorldRemit's online calculator to work out exactly how much your transfer will cost.

XE

XE doesn't charge any fees or commissions on international money transfers.

Winner: XE

With no transaction fees to speak of, XE is the clear winner in this category.

However, please note that this doesn't necessarily mean transfers with XE are always cheaper than WorldRemit, as you'll also need to consider the exchange rate (see below) to determine which service offers the best value for money.

Which offers better exchange rates?

WorldRemit

In addition to fees, WorldRemit makes money by adding a margin on top of the mid-market exchange rate you see listed on Google. This margin varies depending on the currency you send but is commonly in the 0.7–3% range. For example, if you wanted to send a transfer to the US:

If the mid-market rate is 1 AUD = 0.71005 USD

WorldRemit's rate might be 1 AUD = 0.70362 USD

XE

XE Money Transfer also adds a margin on top of the mid-market exchange rate. This margin is an average of 0.62% on some of the world's most popular currencies. Using the same example as we did for WorldRemit:

If the mid-market rate is 1 AUD = 0.71005 USD

XE's rate might be 1 AUD = 0.70668 USD

Winner: XE

XE generally offers better exchange rates than WorldRemit, which means that more of the money you send will end up in your recipient's pocket.

Let's crunch the numbers: Sending $1,000 to the UK

Let's see how WorldRemit and XE compare to one another in a real-life transfer scenario. In this example, we'll compare the cost of sending a $1,000 bank account transfer to the UK.

WorldRemit

XE

Transfer fee

$3.99

$0

Transaction cost

$1,003.99

$1,000

Exchange rate

1 AUD = 0.54083 GBP

1 AUD = 0.54614 GBP

Transfer speed

1 working day

1 working day

Total received (in GBP)

£540.83

£546.14

As you can see in the table, using XE instead of WorldRemit in this example would save you $3.99 in transfer fees and also allow you to send an extra £5.31 to your recipient.

Which is faster?

WorldRemit

The time it takes for the money you send to arrive depends on two factors: the type of transfer you send and the country you send money to. Transfer times with WorldRemit are as follows:

Bank transfer: Instant transfers to selected banks, but a processing time of 1–3 working days for other transactions

Cash pick-up: Available to collect instantly

Mobile money: Instant or near-instant

Airtime top-up: Instant or near-instant

Home delivery: 24 hours to 7 days

XE

Most transfers with XE are completed the same day, but your transaction may take longer in certain circumstances. When setting up your transfer, XE will confirm a payment date with you – this is the earliest date that your transfer will be completed.

Winner: WorldRemit

If you need to send money overseas ASAP, WorldRemit's range of instant or near-instant transfer options make it a better choice.

WorldRemit vs XE: How they work

Payment methods

Minimum and maximum transfers

Delivery methods

Transfer speeds

Countries and currencies

WorldRemit

Bank transfer

Credit card

Debit card

Android Pay

Apple Pay

Minimum: $1

Maximum: $50,000

Bank transfer

Mobile wallet

Cash pick-up

Airtime top-up

Door-to-door delivery

Within an hour

145+ countries

XE

Bank transfer

BPAY

Minimum: $1

Maximum: $500,000

Bank transfers

1 day

60+ currencies and 170+ countries

WorldRemit

To send an international transfer with WorldRemit, the first step is to sign up for a free account. You'll then need to specify the currency and amount you want to send, as well as who you'll be sending it to. You can pay for your transaction via bank account transfer, credit/debit card, Android Pay or Apple Pay.

XE

To send a transfer with XE, sign up for a free account and select the currency and amount you want to send. You'll then need to enter your recipient's name and bank account details, select your payment method and then confirm your transaction details. The funds you send to XE will then be transferred into your recipient's bank account.

Bottom line

With no transfer fees and exchange rates typically better than those on offer from WorldRemit, XE generally offers better value for money. However, if you need to send a quick transfer or send something other than a bank transfer, WorldRemit is worth considering.

Limited offer: $50 Myer gift card for first time users transferring over $5,000 in May 2019. T&Cs apply.
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.

Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.

Compare up to 4 providers

The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

Frequently asked questions

Yes. However, only the WorldRemit app allows you to send transfers, while the XE app offers a range of currency tools and information. If you're looking to send overseas transfers from your phone, check out our guide to the best international money transfer apps.

Both WorldRemit and XE allow you to request a cancellation after you've submitted a transfer request. However, WorldRemit warns that it may not be possible to recall a transaction after it has been paid, while XE warns that a reversal transaction may cause you to incur a close-out cost.

Tim Falk is a writer for Finder, writing across a diverse range of topics. Over the course of his 15-year writing career, Tim has reported on everything from travel and personal finance to pets and TV soap operas. When he’s not staring at his computer, you can usually find him exploring the great outdoors.

Limited offer: $50 Myer gift card for first time users transferring over $5,000 in May 2019. T&Cs apply.
Send 60+ currencies at competitive rates with $0 transfer fees for Finder customers. WorldFirst will beat any eligible quote from another provider.

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